IPEK 60: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
IPEK 60
Largest movements
- Cash -€36,413
down €36,413 (-88.2%), from €41,288 to €4,875
mainly Stocks and contracts (-€18,105) and Trade debts (-€11,388)
- Stocks and contracts +€18,105
up €18,105 (+51.4%), from €35,253 to €53,358
- Financial fixed assets +€10,000
up €10,000 (+2673.8%), from €374 to €10,374
- Receivables within one year +€8,426
up €8,426 (+144.4%), from €5,837 to €14,263
of which Other amounts receivable: +€13,574
- Tangible fixed assets -€6,626
down €6,626 (-57.6%), from €11,494 to €4,868
- Trade debts -€11,388
down €11,388 (-25.8%), from €44,211 to €32,823
- Tax, wage and social debts +€10,847
up €10,847 (+54.4%), from €19,931 to €30,778
of which Taxes: +€10,551
- Short-term financial debts -€8,289
down €8,289 (-25.9%), from €31,983 to €23,694
- Other debts -€3,301
no longer reported in 2025 (was €3,301)
- Other operating charges +€12,968
up €12,968 (+600.9%), from €2,158 to €15,126
- Taxes -€11,692
down €11,692 (-54.5%), from €21,438 to €9,746
- Gross operating margin +€9,501
up €9,501 (+11.0%), from €86,581 to €96,082
- Staff costs +€7,108
up €7,108 (+13.4%), from €53,237 to €60,345
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €113,188 | €100,577 | -€12,611 | -11.1% |
| Fixed assets | 21/28 | €11,868 | €15,242 | +€3,374 | +28.4% |
| Tangible fixed assets | 22/27 | €11,494 | €4,868 | -€6,626 | -57.6% |
| Furniture and vehicles | 24 | €11,494 | €4,868 | -€6,626 | -57.6% |
| Financial fixed assets | 28 | €374 | €10,374 | +€10,000 | +2673.8% |
| Current assets | 29/58 | €101,320 | €85,335 | -€15,985 | -15.8% |
| Stocks and contracts in progress | 3 | €35,253 | €53,358 | +€18,105 | +51.4% |
| Stocks | 30/36 | €35,253 | €53,358 | +€18,105 | +51.4% |
| Amounts receivable within one year | 40/41 | €5,837 | €14,263 | +€8,426 | +144.4% |
| Trade receivables | 40 | €5,148 | - | -€5,148 | |
| Other amounts receivable | 41 | €689 | €14,263 | +€13,574 | +1970.1% |
| Cash at bank and in hand | 54/58 | €41,288 | €4,875 | -€36,413 | -88.2% |
| Deferred charges and accrued income | 490/1 | €18,942 | €12,839 | -€6,103 | -32.2% |
| Total equity and liabilities | 10/49 | €113,188 | €100,577 | -€12,611 | -11.1% |
| Equity | 10/15 | €13,762 | €13,282 | -€480 | -3.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | - | -€6,200 | |
| Issued capital | 100 | €6,200 | - | -€6,200 | |
| Reserves | 13 | €813 | €813 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €813 | €813 | +€0 | 0.0% |
| Legal reserve | 130 | €813 | - | -€813 | |
| Reserves not available under the articles | 1311 | - | €813 | +€813 | |
| Profit (loss) carried forward | 14 | €6,749 | €6,269 | -€480 | -7.1% |
| Amounts payable | 17/49 | €99,426 | €87,295 | -€12,131 | -12.2% |
| Amounts payable within one year | 42/48 | €99,426 | €87,295 | -€12,131 | -12.2% |
| Financial debts | 43 | €31,983 | €23,694 | -€8,289 | -25.9% |
| Credit institutions | 430/8 | €31,983 | €23,694 | -€8,289 | -25.9% |
| Trade debts | 44 | €44,211 | €32,823 | -€11,388 | -25.8% |
| Suppliers | 440/4 | €44,211 | €32,823 | -€11,388 | -25.8% |
| Taxes, remuneration and social security | 45 | €19,931 | €30,778 | +€10,847 | +54.4% |
| Taxes | 450/3 | €10,160 | €20,711 | +€10,551 | +103.8% |
| Remuneration and social security | 454/9 | €9,771 | €10,067 | +€296 | +3.0% |
| Other amounts payable | 47/48 | €3,301 | - | -€3,301 | |
| Remuneration, social security and pensions | 62 | €53,237 | €60,345 | +€7,108 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,855 | €2,425 | +€570 | +30.7% |
| Other operating charges | 640/8 | €2,158 | €15,126 | +€12,968 | +600.9% |
| Non-recurring operating charges | 66A | - | €4,127 | +€4,127 | |
| Gross operating margin | 9900 | €86,581 | €96,082 | +€9,501 | +11.0% |
| Operating profit (loss) | 9901 | €29,331 | €14,059 | -€15,272 | -52.1% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €5,232 | €4,793 | -€439 | -8.4% |
| Recurring financial charges | 65 | €5,232 | €4,793 | -€439 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €24,100 | €9,266 | -€14,834 | -61.6% |
| Income taxes | 67/77 | €21,438 | €9,746 | -€11,692 | -54.5% |
| Profit (loss) for the period | 9904 | €2,662 | -€480 | -€3,142 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,662 | -€480 | -€3,142 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.